2019 ProSeries/Missouri Readme
Release 2019.29
Contents
Items addressed in this release
Items addressed in previous releases
What's new for ProSeries/Missouri
Forms
Electronic filing
Additional Information
Items addressed in this release
- Form MO-1040ES Missouri has updated calculations for the 2020 estimated tax worksheet to no longer factor in the federal income tax deduction as a subtraction from estimated tax.
- Error checking - Improved data validation and error checking to assist in preparing Missouri tax returns.
Items addressed in previous releases
- Filing and payment deadline extended. The deadline for filing and paying state income taxes moved from April 15 to July 15, 2020 due to the COVID-19 pandemic.
- Form MO-2210 Form MO-2210 is now updated to correctly calculate Part I, line 2 as 90% (66-2/3% for qualified farmers) of the total Missouri tax.
- All forms are now final in this release of ProSeries/Missouri.
What's new for ProSeries/Missouri
The following items are new for tax year 2019:
- Missouri Tax Rates - The Missouri Tax Rate Chart has a slight increase in income threshold ranges, resulting in a reduction in tax for most income tax filers. The top tax rate has also decreased from 5.9% to 5.4%.
- Federal Income Tax Deduction Limits - Missouri has new income threshold requirements to calculate the amount of federal income tax deduction is allowed against the Missouri tax return, please review instructions for additional information.
- First-Time Homebuyers Savings Account - Missouri now allows a deduction of contributions and interest designated in a qualified first-time homebuyer savings account to be claimed on the new Form 5766, please review instructions for additional information.
- Two New Donation Funds - Missouri has two new donation funds that taxpayers may donate to: Kansas City Regional Law Enforcement Memorial Foundation Fund and Soldiers Memorial Military Museum in St. Louis Fund.
- Federal Reserve Bank Interest Subtraction - Missouri MO-A has a new subtraction line for Federal Reserve Bank interest, please review instructions for additional information.
- Business Interest Addition/Subtraction - Missouri MO-A has a new addition/subtraction line for business interest income, please review instructions for additional information.
- Missouri MO-A Business Income Deduction - Missouri MO-A, business income deduction allowable percentage has increased from 5% to 10%, please review instructions for additional information.
- Missouri MO-2210 Underpayment of Estimated Tax - Missouri MO-2210, the annual percentage for underpayment interest penalty has increased from 4% to 5%.
Forms
Missouri returns can be filed in this version of ProSeries/Missouri.
The Missouri Department of Revenue has approved for filing all forms and schedules included in this version of ProSeries/Missouri.
Electronic Filing
Important: Electronic filing is available in this release
of ProSeries/Missouri.
For a list of forms that can be e-filed, go to What's New This Year in Help Center.
Additional Information
Check all returns after printing
The Missouri Department of Revenue scans computer-generated forms to quickly
process the income tax returns it receives. To meet the requirements for
producing computer-generated forms, ProSeries is required to limit the width of
the tax information printed on forms that are scanned. In certain cases, data
you entered may be truncated. After completing a tax return, review the
information that prints (for example, mailing address information), make any
necessary changes, and reprint the return before mailing it.
About barcodes on printed state returns
Some states use barcodes on computer-printed tax forms. This special formatting
allows the state taxing authorities to process returns more quickly and
efficiently. On-screen, you'll see only a small representation of the bar code
on the lower-left side of the form. This image is static and does not change
based on the information in the return. However, when you print the return, the
bar code appears as a large rectangular box on the first page of the form. The
width of the bar code is constant; the height varies according to the data in
the return. In general, the more complex the return, the larger the printed bar
code.
Returns that contain special formatting may be processed at a different location than
manually-prepared returns. Therefore, the filing instructions that print with
the state return may contain a mailing address that's different from the
mailing address in the package that is sent to taxpayers. Be sure to have your
clients mail their returns to the address in the filing instructions that print
with the return.
Important: Because the barcode image is a function of the data in
the tax return, it's important that you reprint the page with the bar code if
changes are made to any part of the return. Also, do not print blank copies of
the main form and prepare them manually. The Missouri taxing authority may attempt to
scan the form and reject it.
End of ReadMe file for ProSeries/Missouri